The Sri Lankan rupee ended weaker on Thursday, near a record low hit last week and falling for the fifth straight session, as demand for dollars by importers and sale of government securities by foreign funds weighed, dealers said. The rupee is expected to fall further if the central bank fails to tighten interest rates or if the country does not see strong inflows soon, some dealers said.
The spot rupee ended at 138.95/139.10 per dollar compared to Wednesday's close of 138.80/95. It hit a record low of 139.00 per dollar on Friday. "There were exporters selling around 139.00 level, but nobody is certain if the rupee would fall further. So, some exporters are not selling dollars in large volumes," a currency dealer said asking not to be named.
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